Notice Concerning the Group Reorganization

Establishment of Subsidiary to Strengthen EV Charging Business, and changed the name of the power-saving service development subsidiary

ENECHANGE Ltd. announces that it will establish a new subsidiary, ENECHANGE EV Labs Ltd., on October 1, 2022, which will specialize in the development and procurement of hardware and software related to EV chargers, in order to strengthen its EV charging service business and achieve more efficient business operations. In addition, we will change the name of our subsidiary SMAP ENERGY Ltd. which is headquartered in London, UK.

About ENECHANGE group reorganization

1．Establishment of Subsidiaries

The Company has been in the EV Charging business since November 2021, offering EV charging services available for a monthly fee under the brand name “ENECHANGE EV Charge”. Domestic new vehicle sales of EVs and PHVs reached a record high of 3.3%* in the second quarter of 2022 (April to June). Along with the future growth of the EV market, demand for EV charging facilities is expected to increase, and we have a policy of expanding our business through aggressive upfront investment.
Based on this policy, we have established a new subsidiary, ENECHANGE EV LAB Ltd., which specializes in the development and procurement of hardware and software related to EV charging facilities, in order to realize more efficient business operations while making aggressive upfront investments in the EV Charging business.
* Based on Japan Automobile Dealers Association, “Numbers of Sold Vehicles by Fuel Type (Passenger Vehicles)”

Name: ENECHANGE EV Lab Ltd.
Description of business: Research, development and procurement of hardware and software for EV charging facilities
Date of establishment: October 1, 2022 (scheduled)

2．About change of Name of Subsidiary, SMAP ENERGY LTD.

SMAP ENERGY, a U.K.-based subsidiary, has been developing and marketing the electricity smart meter data analysis SaaS “SMAP,” centered on the “SMAP DR” demand response (DR) service, which realizes electricity savings by utilizing smart meter data. In order to respond to the recent increase in demand for energy-saving services in Japan, we have decided to transfer the development and sales operations of DR products such as “SMAP DR” to ENECHANGE. In conjunction with this transfer, SMAP ENERGY will focus on investing in overseas decarbonization tech ventures through the “Decarbonized Tech Fund” managed by the Company, and on business alliance functions with these companies, and will also change its company name as described below.

New name: ENECHANGE Innovation Limited (UK) (subject to final approval)

About ENECHANGE Ltd.

ENECHANGE is an energy technology company that promotes a carbon-free society through digital technology with the mission of Changing Energy For A Better World. We offer services based on data utilization in the field of the 4Ds of Energy: Deregulation, Digitalization, Decarbonization, and Decentralization. Our company’s roots come from an energy data lab at the University of Cambridge, U.K., a country where liberalization is mature. ENECHANGE has a British subsidiary, SMAP Energy Limited, as well as a global network and analytical technology for energy data.

URL: https://enechange.co.jp/en/

■For inquiries
ENECHANGE Ltd.
pr@enechange.co.jp